The Plan of Liquidation provides that the Company's board of directors will be dissolved and its officers will be dismissed on the Effective Date. As provided in the Plan of Liquidation, each of the Company's directors, Heath B. Freeman, Timothy A. Barton, Dana Goldsmith Needleman, Steven B. Rossi and Thomas E. Zacharias and the Company's remaining officers, including Mark Renzi, Chief Restructuring Officer, will cease to be directors and officers of the Fred's, Inc. on the Effective Date.